ASB hikes mortgage rates
ASB's move follows rate increases from Kiwibank and Westpac.
The Official Cash Rate may still be sitting at 2.5% but banks are getting in early with mortgage rate hikes.
ASB has increased its fixed-term rates across the board, raising its one-year rate by 20 basis points to 6.15%, its 18-month rate by 40 basis points to 6.40% and its two-year rate by 25 basis points to 6.65%.
Its three-year rate has been raised by five basis points to 6.95%, its four-year rate by five basis points to 7.35%, and its five-year rate by 15 basis points to 7.75%.
ASB subsidiaries Bank Direct and Sovereign have hiked their rates by the same amount.
ASB's move follows recent increases to some mortgage rates by Kiwibank and Westpac.
Niko Kloeten
Thu, 04 Aug 2011
Thu, 04 Aug 2011
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ASB hikes mortgage rates
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